Sonoco Products (NYSE:SON) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. lowered its position in shares of Sonoco Products (NYSE:SON - Free Report) by 81.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,491 shares of the industrial products company's stock after selling 280,173 shares during the quarter. Valley Wealth Managers Inc. owned approximately 0.07% of Sonoco Products worth $3,322,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in Sonoco Products during the 1st quarter valued at about $26,000. FinTrust Capital Advisors LLC increased its holdings in shares of Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 216 shares during the last quarter. Burkett Financial Services LLC purchased a new position in Sonoco Products during the fourth quarter worth approximately $30,000. TFO Wealth Partners LLC boosted its stake in Sonoco Products by 12,183.3% during the fourth quarter. TFO Wealth Partners LLC now owns 737 shares of the industrial products company's stock worth $41,000 after buying an additional 731 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Sonoco Products in the 1st quarter valued at $50,000. 77.69% of the stock is owned by institutional investors and hedge funds.

Sonoco Products Trading Up 1.5 %

Shares of Sonoco Products stock traded up $0.81 on Friday, reaching $55.07. The company had a trading volume of 486,328 shares, compared to its average volume of 520,657. The firm's 50 day moving average price is $51.99 and its two-hundred day moving average price is $55.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. Sonoco Products has a 52-week low of $52.76 and a 52-week high of $55.57. The firm has a market cap of $5.41 billion, a PE ratio of 13.71, a PEG ratio of 2.09 and a beta of 0.68.

Sonoco Products (NYSE:SON - Get Free Report) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. The firm's quarterly revenue was down 4.8% compared to the same quarter last year. Sell-side analysts predict that Sonoco Products will post 5.09 earnings per share for the current fiscal year.

Sonoco Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Friday, August 9th. Sonoco Products's dividend payout ratio is currently 52.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Sonoco Products from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $54.00 to $52.00 in a research report on Wednesday, August 21st. Raymond James began coverage on shares of Sonoco Products in a report on Friday, July 19th. They set an "outperform" rating and a $62.00 price target for the company. StockNews.com lowered shares of Sonoco Products from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, July 3rd. Finally, Citigroup cut their target price on Sonoco Products from $64.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, July 8th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Sonoco Products Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.